Aravive Investor Presentation Deck

Batiraxcept (AVB-500): High Affinity, Highly Specific GAS6/AXL Inhibitor Modified AXL-Fc fusion protein engineered for strong stability and very high affinity for GAS6 # ~200 fold greater affinity for human GAS6 compared to native AXL receptor B Preclinical data demonstrated relationship between affinity and anti-tumor activity . Good safety and PK profile Structure modeled after marketed drugs (Enbrel®, Zaltrap®, Orencia®) Proprietary biomarker tests to monitor GAS6 levels # Serum GAS6 levels associated with efficacy in preclinical studies SAXL/GAS6 ratio pretreatment associated with response in P1b PROC, P1b ccRCC and P1b PDAC trials Strong IP position on GAS6 inhibition (>2035)

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